Jeff Rendel, president of Rising Above Enterprises in Corona, Calif., advised credit union professionals and volunteers attending the New Jersey Credit Union League’s Annual Conference on Monday to implement a structure that aids both the member and the credit union.

For example, when a member signs up for a transaction account, get an instantly issued debit card in their hand. Rendel added that offering mobile banking and bill pay will help keep the members tied to the credit union.

“The easier we make it for members to go through the hoops and the more meticulous we are, the more you grow your revenue stream,” Rendel said. He later explained that the Customer Effort Score, which determines how easy it is to do business with you, is the highest predictor of member satisfaction, beyond even the Net Promoter.

Also, implementing a tool such as Salesforce can help loan officers track where members are in their loan decision process. When a credit union member expresses interest in a loan, there’s an estimated 30% chance of closing the loan. If they move onto the pending/approved status, the chance of closing that loan jumps up to 50%. After the credit union approves the loan, the chances are even greater at 70%, and you don’t want to let these applicants slip through your hands, Rendel said.

Finally, when the loan is completed and you just need them to sign on the dotted line, you’ve got a 90% chance of closing the loan. Rendel recommended at this stage, “Go to them. Just go to them.”

Particularly with a small business it’s helpful to the member to go to their location, or even a member’s home if they want.

Another idea is to look for loans your members have with other institutions and offer them a better rate. It’s crucial, Rendel said, to manage the flow of opportunities with skilled employees.